OFF MARKET

32/575 Hunter Street
Newcastle West NSW 2302

Bedrooms: 2
Bathrooms: 2
Car spaces: 1
Floor area: 82m2
Land area: 2740m2
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Property Details for 32/575 Hunter St, Newcastle West

32/575 Hunter St, Newcastle West is a 2 bedroom, 2 bathroom Unit with 1 parking spaces and was built in 2000. The property has a land size of 2740m2 and floor size of 82m2. While the property is not currently for sale or for rent, it was last sold in July 2019.

Building Type
Unit
Year Built
2000
Floor Size
82m2
Land Size
2740m2
Local Government
Newcastle
Lot/Plan
32/SP62883

Last Listing description (July 2019)

**INVESTORS ONLY**
A unique opportunity to secure a two bedroom apartment in the heart of Newcastle's CBD.
Within a short walk to the waterfront boardwalk of Honeysuckle and Marketown Shopping Centre, located on the 5th floor.

**Recent refurbishment works include**
-New vanities
- New Shower screens
- New Mirrors
- Replace all lights to LED
- New Kitchen vinyl flooring
- Painting Touch ups
A sought after, "hot spot" for investors, Newcastle is a vibrant and progressive city, surrounded by spectacular beaches and harbours.
With restaurants, bars and outdoor cafes at your doorstep,together with a thriving business economy and strong tourism
market, its one not to be missed.

Lease Details
Rent as of 12/6/19: $475 per week ($24,728 per annum)
Next Rent Increase: 12 June 2021
Current Return: 6.89% Gross / Net 6.48%
Lease Terms: Lease to 11/06/2020 plus 5 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2020)

Approximate Owner Outgoings:
Council Rates: $602 pa *Quest Newcastle pays other half
Water Rates: Paid by tenant
Body Corporate Administration fee: Paid by tenant
Body Corporate Sinking fund : $885.20 p/a

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Property History for 32/575 Hunter St, Newcastle West, NSW 2302

A timeline of how this property has performed in the market
Last Sold
$390,000
08 Jul 2019
  • 08 Jul 2019
    Sold for $390,000
  • 03 May 2019
    Listed for Sale SOLD - $390,000
  • 25 May 2007
    Listed for Sale $315,000
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About Newcastle West 2302

The size of Newcastle West is approximately 0.8 square kilometres. It has 5 parks covering nearly 31.8% of total area. The population of Newcastle West in 2011 was 593 people. By 2016 the population was 619 showing a population growth of 4.4% in the area during that time. The predominant age group in Newcastle West is 20-29 years. Households in Newcastle West are primarily childless couples and are likely to be repaying $1400 - $1799 per month on mortgage repayments. In general, people in Newcastle West work in a professional occupation. In 2011, 36% of the homes in Newcastle West were owner-occupied compared with 35.9% in 2016..

Newcastle West has 1,791 properties. Over the last 5 years, Houses in Newcastle West have seen a 48.32% increase in median value, while Units have seen a 28.53% increase. As at 31 October 2024:

  • The median value for Houses in Newcastle West is $1,263,434 while the median value for Units is $728,791.
  • Houses have a median rent of $578 while Units have a median rent of $650.
There are currently 12 properties listed for sale, and 6 properties listed for rent in Newcastle west on OnTheHouse. According to CoreLogic's data, 69 properties were sold in the past 12 months in Newcastle west.

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